Here is what you need to know on Thursday 10, September.
BTC/USD is currently trading at $10,305 after defending the $10,000 level again. Bulls have already defended this level for a week straight and whales are already moving significant quantities of cryptocurrencies around.
ETH/USD is bouncing after a 6% price increase in the past 24 hours and looking at the daily 50-MA at $365 as the next potential resistance level.
XRP/USD is bouncing from the 200-MA but getting rejected at the 100-MA. The cross-border cryptocurrency is currently trading at $0.241.
Chart of the day: BTC/USD daily chart
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Market
Several whales have moved huge quantities of Bitcoin from 1,000 coins to the biggest at 3,001 Bitcoin, around $30 million from OKEx to an unknown wallet. A colossal whale moved 216,016 ETH from an unknown wallet to another wallet, worth around $76 million. It’s clear that whales are moving coins around, perhaps getting ready for the crypto market bottom, to buy the dip or for the next leg down.
Industry
Huobi, one of the biggest exchanges by volume has announced the launch of a new savings product to compete with DeFi yield platforms. To incentivize new users to join the platform, Huobi is giving out accounts with annualized returns of 88% for the first week and will distribute 30,000 USDT among users.
DCG, a blockchain investment firm has just acquired Luno, a crypto exchange with over 5 million existing customers in around 40 countries.
We have invested in many retail businesses all over the world – including nearly two dozen exchanges, said Mark Murphy, DCG’s chief operating officer. But this is the first subsidiary that is a wallet and an exchange, which of course have large numbers of retail investors.
Quote of the day
This [Bitcoin] may be the purest form of democracy the world has ever known, and I — for one — am thrilled to be here to watch it unfold.
– Paco Ahlgren
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